The gold price
Banro updates gold resource estimates - 13 June 2007
Banro Corporation has announced updated mineral resource estimates for its Twangiza project in the Democratic Republic of the Congo (DRC).
Measured and indicated resources have increased to 3.1 million ounces of gold, with 46 million tonnes grading 2.13 grams per tonne of gold.
As well as that, inferred mineral resources have increased to three million ounces, with 47 million tonnes grading 2.02 grams per tonne.
This increase came about in part because of a new discovery, Twangiza North, which has an estimated inferred resource of 885,500 ounces of gold.
The discovery came about as a result of drilling out a gold-in-soil anomaly with a strike length of 1.8 kilometres.
"We are excited by the discovery of the new Twangiza North deposit that remains open at depth and along strike as well as the above average grade of 4.20 grams per tonne of gold for the new resource," said the company's president and chief executive, Peter Cowley.
"The full extent of this new discovery will be drill tested over the coming months, including its extension under cover to the north."
Banro is a Canadian company with four wholly-owned properties in the DRC.
Measured and indicated resources have increased to 3.1 million ounces of gold, with 46 million tonnes grading 2.13 grams per tonne of gold.
As well as that, inferred mineral resources have increased to three million ounces, with 47 million tonnes grading 2.02 grams per tonne.
This increase came about in part because of a new discovery, Twangiza North, which has an estimated inferred resource of 885,500 ounces of gold.
The discovery came about as a result of drilling out a gold-in-soil anomaly with a strike length of 1.8 kilometres.
"We are excited by the discovery of the new Twangiza North deposit that remains open at depth and along strike as well as the above average grade of 4.20 grams per tonne of gold for the new resource," said the company's president and chief executive, Peter Cowley.
"The full extent of this new discovery will be drill tested over the coming months, including its extension under cover to the north."
Banro is a Canadian company with four wholly-owned properties in the DRC.
Goldbug, 13 Jun '07
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